Capital Gains Tax

Capital Gains Tax

As a general rule, (Capital Gains Tax) CGT is payable on the profit portion of the sale of a capital asset.

You may be surprised to realise that all forms of property are deemed to be chargeable assets unless specifically exempt. Some exemptions are well known such as an individuals private residence and private motor cars.

CGT can become very complex depending on the individual circumstances and, furthermore, depending on the asset being sold. The good news is that there are many possibilities to reduce, mitigate or defer your CGT. However, planning and timing are absolutely crucial.